The Nigerian Exchange Limited closed the week bearish with a N439bn dip in market capitalisation, dragging the All-Share Index down 0.50 per cent to 140,295.50 points. The financial services industry led activity, with FCMB Group Plc, Champion Breweries Plc, and Access Holdings Plc topped trades, TEMITOPE AINA writes

Equities listed on the Nigerian Exchange Limited lost a total of N439bn in market capitalisation last week as sustained bearish sentiment dragged the All-Share Index and other performance indicators lower.

Figures obtained from the NGX showed that the market capitalisation fell 0.49 per cent to close at N88.769tn, down from N89.208tn recorded the previous week. Similarly, the NGX All-Share Index depreciated 0.50 per cent to settle at 140,295.50 points compared with 141,002.76 points posted the preceding week.

The weekly market report revealed that investors traded a total turnover of 3.199bn shares worth N85.399bn in 142,477 deals, representing a decline compared with the 4.773bn shares valued at N107.426bn that exchanged hands the previous week in 152,965 deals.

The financial services industry maintained its dominance on the activity chart, accounting for 2.195bn shares valued at N42.689bn in 66,808 deals, thus contributing 68.61 per cent and 49.99 per cent, respectively, to the total equity turnover volume and value. The Consumer Goods Industry followed with 277.881m shares worth N9.910bn in 15,518 deals, while the Services Industry placed third with 178.992m shares valued at N1.308bn in 7,580 deals.

The top three traded equities by volume were FCMB Group Plc, Champion Breweries Plc, and Access Holdings Plc, which accounted for 778.603m shares worth N13.155bn in 11,288 deals. These transactions contributed 24.34 per cent and 15.40 per cent to the total equity turnover volume and value, respectively.

On the Exchange Traded Products segment, investors traded a total of 202,506 units valued at N23.784m in 390 deals compared with 396,920 units valued at N39.032m exchanged the preceding week in 365 deals. Similarly, in the bonds segment, 80,523 units worth N74.045m were traded in 32 deals compared with 58,537 units valued at N58.768m that transacted the prior week in 26 deals.

The report showed that 32 equities appreciated in price during the week, lower than the 43 recorded the previous week. On the flip side, 57 equities declined in price, higher than the 54 recorded the prior week, while 57 equities closed flat, an increase from forty-nine in the preceding week.

On the gainers’ chart, McNichols Plc led with an increase of N0.60, rising from N3.20 per share to N3.80 per share, representing an 18.75 per cent gain. It was followed by NEM Insurance Plc, which appreciated by N4.60 from N26.60 to N31.20 per share, translating to a 17.29 per cent increase. Berger Paints Plc gained N4.90, moving from N32.00 to N36.90 per share, up by 15.31 per cent.

Also, Coronation Insurance Plc added N0.41 to close at N3.62 per share from its opening price of N3.21, reflecting a 12.77 per cent appreciation. Learn Africa Plc advanced by N0.80 from N7.00 to N7.80 per share, posting an 11.43 per cent gain. NCR (Nigeria) Plc gained N1.05, rising from N10.50 to N11.55 per share, up by 10 per cent.

Similarly, SFS Real Estate Investment Trust appreciated by N27.40, moving from N274.15 to N301.55 per unit, representing a 9.99 per cent increase. Julius Berger Nigeria Plc added N13.20, climbing from N132.90 to N146.10 per share, translating to a 9.93 per cent gain. SCOA Nigeria Plc rose by N0.50, moving from N5.50 to N6.00 per share, up by 9.09 per cent, while Beta Glass Plc advanced by N36.65 from N449.35 to N486.00 per share, a growth of 8.16 per cent.

On the other hand, the losers’ table was led by Secure Electronic Technology Plc, which declined by N0.25 from N1.10 to N0.85 per share, representing a 22.73 per cent loss. It was trailed by Guinea Insurance Plc, which shed N0.35 to close at N1.42 per share from its opening price of N1.77, down by 19.77 per cent. Lasaco Assurance Plc also dropped by N0.46, moving from N3.46 to N3.00 per share, a depreciation of 13.29 per cent.

In the same vein, University Press Plc lost N0.76 to close at N5.54 per share from N6.30, indicating a 12.06 per cent decline. Mutual Benefits Assurance Plc shed N0.50, dropping from N4.40 to N3.90 per share, down by 11.36 per cent. Royal Exchange Plc depreciated by N0.25 from N2.25 to N2.00 per share, representing an 11.11 per cent loss.

Furthermore, Cornerstone Insurance Plc dropped by N0.71 from N7.10 to N6.39 per share, a 10 per cent decline, while John Holt Plc also fell by N0.70, moving from N7.00 to N6.30 per share, reflecting a 10 per cent decrease. Daar Communications Plc shed N0.12 to close at N1.09 per share from N1.21, down by 9.92 per cent, while Associated Bus Company Plc declined by N0.49 from N5.00 to N4.51 per share, a depreciation of 9.80 per cent.

Meanwhile, the NGX reported new listings during the week. Chapel Hill Denham Nigeria Infrastructure Debt Fund listed an additional 270,382 units on Monday, August 25, 2025, arising from its 2025 second-quarter scrip dividend. With this, the total units of the Fund increased from 1,055,744,147 to 1,056,014,529 units.

In a similar development, Coronation Asset Management Limited listed 87.9m units of its Series 1 Coronation Infrastructure Fund of N100 each under its N200bn issuance programme on the Exchange. The listing, which also took place on August 25, 2025, brought the total fund size to N8.79bn with a tenor of 10 years.

Also, Industrial & Medical Gases Nigeria Plc activated the trading of its rights issue of 199,797,458 ordinary shares of 50 kobo each at N32.00 per share on the basis of two new ordinary shares for every five ordinary shares held as of May 21, 2025.

The offer, which opened on August 22, 2025, is scheduled to close on October 2, 2025.

In addition, the NGX announced the supplementary listing of additional Federal Government of Nigeria bonds issued in May 2025. Specifically, the 19.30 per cent FGN April 2029 bond increased from 935,637,140 units to 940,342,140 units, while the 19.89 per cent FGN May 2033 bond rose from 2,216,665,821 units to 2,512,654,476 units following additional listings.

Analysts noted that the decline in market performance was largely due to increased profit-taking activities and cautious trading by investors amid lingering macroeconomic concerns. They advised investors to watch out for opportunities in fundamentally sound stocks despite the current bearish momentum.